PWCPA Blog
What You Need to Know about the Business Mileage Rate for 2023
Contractors and business owners often do a great deal of driving for business purposes. Whether you’re meeting with potential clients, attending networking conventions, or visiting various worksites, it doesn’t take long to start racking up the miles—and, of course,...
Has Your Identity Been Stolen?
How do you know that you have been a victim of tax-related identity theft and your taxes have been compromised? The theft could include your stolen personal information and your Social Security number. The problem is you may not know that someone has actually stolen...
Things You Can Do Now to Reduce Your 2023 Tax Bill
The New Year has barely gotten started, and if you’re thinking about taxes at all, you’re likely focused on filing your 2022 tax return. While you should certainly be starting to gather those 2022 tax documents, it’s also a good idea to look ahead and think about how...
FY23 NDAA and the Provisions That Every Government Contractor Needs to Know
Two days before Christmas day, President Biden signed the National Defense Authorization Act (NDAA) for the 2023 fiscal year. The President has stated that "The Act provides vital benefits and enhances access to justice for military personnel and their families, and...
Government Contracting Compliance: Understanding Your Duty to Safeguard Defense Information
Contracting for the federal government can open up many new work opportunities for your business. However, it does come with added responsibilities and compliance requirements. If you want to remain in good standing with the federal government and continue receiving...
New Year, New Tax Year. It’s Never Too Early.
We're barely in the year 2023; everyone's hoping for the best. But what trumps hoping? Being prepared. So gather up your receipts and take your pencils out and take a gander at these steps that you can do to prepare for the new tax year. Determine and, if needed,...
A Government Contractor’s New Year Resolution
The Year of the Rabbit is here; 2023 is now upon us. With a little luck and a lot of hard work, you can make this the best year for your budding government contracting business. For a little fun, here are some New Years' resolutions you can choose to do this new year....
Outsourcing Your Accounting for Government Contracts
You have found your niche and have done your research. You have mastered your field and made a decision between a sub or prime contractor. You know where to look for contracts and how to structure your bids. Your software is now ready. What are you missing to get...
What Government Contractors Should Know about Schedule K-1s
Government contractors and all types of business owners have incredibly complex tax returns when compared to individuals whose sole source of income is recorded on a W-2. As a business owner and contractor, you likely receive a variety of income tax forms, including...